Spot prices for containerized freight continued to rise this week, with the Shanghai Containerized Freight Index (SCFI) rate index increasing for the 12th consecutive week, according to data from the Shanghai Shipping Exchange. 

The index rose 6.9% this week to 3,714.32, bringing the SCFI to a level 290% higher than at the same time last year. 

However, it is still a long way from its peak, which was reached in early January 2022 at 5,109.60. 

The SCFI measures the spot prices of containerized freight from Shanghai to a number of destinations around the world. 

The recent period has been characterized by large increases in spot rates due to the unrest in the Red Sea, which has forced container shipping lines to make a long detour around the southern coast of Africa on routes between Asia and Europe.

(English edit by Kristoffer Grønbæk)